See, for your 15 years goal first try to do proper asset allocation like debt:equity in ratio of 30:70. For debt, even you can utilize PPF or use the short term debt funds like HDFC Banking PSU Debt Funds. For equity, two funds are enough. One large cap like Birla Sunlife Frontline Equity or Franklin India Bluechip Fund. One mid cap like HDFC Midcap Opp Fund or Franklin India Prima Fund. For your 8 years lump sum investment, debt to equity must be in ratio of 65:35. For debt, again use the same fund which I selected and shared above. For equity also, same two funds. That’s it. The foremost important of investing is keeping investments simple. There are many ways to complicate. But keep it simple.